The owner could be lying about the rents, so you will want to check market rents to confirm this is a realistic number.  

They also cannot force the landlord to make repairs.If their concern is that the landlord may be lying about these issues one option they might consider is contacting local Code Enforcement for an inspection to confirm that the rental unit is uninhabitable.Why do you believe your friends could sue for the total lease amount?

face to face conversation.You may have your information wrong, they may be lieing, best to come to it as "I have a problem I do not understand, can you help me resolve this?"

@mylene Bel I have seen clients successfully employ the LLC strategy you mention to avoid firpta here in Hawaii, vesting in the LLC literally days before flipping.

I'd be lying if I said the event wasn't supposed to be a paid event.

But she knew the previous owner was an ***hole just like I knew he was and therefore knew there was a better chance he would be lying rather than me.

I live and work in the Washington DC/Metro region so I would be lying if I didn't admit I am imtimidated by the market.Regarding the DC market, I have been listening to the BP podcasts and recently listened to episode 210 where Sam Valme discussed his experiences with AirBnB, as he is from relatively the same region as me (about an hour away).

I would, however, want to include coverage for building materials such as tile, which would be lying around during the construction process.

RE is an area where you can easily get bad advice, wrong answers and be lied to by others, especially when they have a vested interest selling you crap.Read here on lease options, seller financing with attention paid to the issues mentioned above.

Hud has a billion horror stories, i'd be lying though if i said it didn't cause opportunities at times.